Presents

VAT INBUILT This module has been developed to facilitate Traders for VAT Calculation

 The Add on automatically calculates VAT and help the user for speedy entry.  User only require to enter price of the product or Item. Add on calculates VAT amount automatically, and display the VAT + Product Price = MRP.  Understanding Invoice is quiet easy, as we can view and print VAT amount & Product price separately. The total of both is MRP.  The add on saves user’s manual calculation time, while doing any entry. Features:-

Setup Details:- Gateway of Tally > Accounts Info > Ledgers > Create Ledgers 1 st Ledger is 5%”. This Ledger comes under “Sales Account”. Under Statutory information Set “Yes” to Used in VAT Returns.

2 nd Ledger is “Output 5%”. This Ledger comes under “Duties & Taxes”. Type of Duty/Tax: “VAT”, Sub Type: “Output VAT”, VAT/Tax Class: “Output 5%”.

Set Yes to Activate Reverse Calculations for VAT Gateway of Tally > Accounts Voucher Creation > Voucher Configuration

User require to enter only MRP, which includes all taxes. Add on will automatically calculates the VAT, and show us both the figures in separate column. Gateway of Tally > Accounting Voucher Creation

We can see the VAT in Invoice too.